San Francisco Chronicle Futures fluctuate on mixed signals from retail San Francisco Chronicle That means more pocket money for consumers, but there have been mixed signals from retailers about what shoppers, particularly those with low incomes,...
Technorati Retail E-Commerce Surpasses $50 Billion in Q1 2013 Technorati On Friday, comScore announced that U.S. retail e-commerce in Q1 2013 surpassed $50 billion in spending for just the second quarter on record.
Yunyun Li's insight:
As can be see, E-Commerce in retail sector has high profit margin, the future of it would be promising. The use of E-Commerce in supply chain management enables retailers to have right items on shelf at right time and price.
Mall developers will now be compelled to hire mall management services, especially when global brands are looking at India after the government cleared FDI in retail, experts say (sharing #suaju FDI in retail to force developers into mall management:...
Yunyun Li's insight:
It is actually necessary to view the situation of an industry in the context of policies related, and changes in political environment can always affect the development of a sector in a country, a region and even the world.
Design thinking is all about getting closer to your customers to really understand what they do, how they think and what they need, so you can focus (RT @hannahkirkman: New on the blog > Creating around the customer: design thinking and social ...
Almost all people doing business study know that successful supply chain aims to boost efficiency while reducing costs. However, some may fail to notice that the objective of all these practices is to deliver more value to customers. Thus, SCM should be put in the whole context of an organisation, the success of SCM is closely related to CRM.
Virtually all retailers use historic data (structured) to better understand customers and increase sales. During the last 10 years, the proliferation of digital channels has made consumers "hyper-connected," transforming them from data consumers to data producers. The result is two-fold: it has created more "siloes" for the retailer and an explosion of unstructured data. With the supply chain being pivotal for retailers, any improvement will impact the sales or operational efficiency as well as the customer experience. The core objectives of retail supply chain organizations continue to remain consistent across the journey:1. Build efficiencies into the supply chain. Ensure a high-performance supply chain by enhancing productivity, collaboration, speed and visibility, and minimize time spent manually monitoring key events that require action or provide important information – for e.g. labor scheduling at distribution centers.2. Improve relationships with supply chain stakeholders. Improve relationships by providing visibility into events that affect stakeholders like vendors, suppliers, carriers, distribution, warehousing and customers.3. Be agile and proactive. Improve agility to respond to business dynamics and ensure a proactive response to business critical issues before they escalate. Use IT performance monitoring tools to identify and eliminate system performance issues before it becomes visible to stakeholders and affects retailers' operational efficiency. Omnichannel retailers are entering into an exciting age of opportunity in supply chain data management. Retailers can leverage Big Data coupled with real-time tracking and analysis of both structured and unstructured data to build an intelligent, adaptive and highly responsive supply chain and gain end-to-end visibility at a network level. Retailers must integrate all systems and explore ways to rapidly respond to supply chain challenges. For example, can the stock replenishment quantity of a particular SKU for a particular store be changed just a few hours before being loaded onto the truck at the warehouse? To achieve this, retailers must consider the data from a real-time demand management perspective. Implementing advanced analytics and Big Data solutions can significantly help retail supply chain organizations improve both planning and execution. This includes:1. Advanced Planning and Scheduling. Gain end-to-end visibility and attain high-quality decision support to consistently achieve optimal performance. Reduce out-of-stocks and inventory issues that waste resources with accurate production plans and schedules.2. Improved Demand Planning. Leverage historical demand data with user-anticipated differences in order to get better results with each forecast.3. Improved Responsiveness. Manage the uncertainties of seasonality and new product introduction so decisions and scheduling are automated across complex dependencies.4. Intelligent Inventory Planning and Deployment. Use optimized, dynamic business rules, inventory policies and forecasts to consider consumption rates and inventory levels across the supply chain, applying replenishment rules.5. High Precision Replenishment Planning. Keep service levels high and costs low by harmonizing supply with demand internally and across the network of trading partners to have the right amount of product at the right time at the right place. This is crucial for omni-channel channel fulfillment (e.g. buy online pick-up in-store or BOPIS).6. Real-Time Supply Chain Execution. Live information processing enables improved agility and ability to act just-in-time on changing requirements such as fulfillment quantity, inventory re-routing, etc.7. Omnichannel Order Optimization. Improve on-time delivery, minimize the cost of expediting and contribute to program success. While many ERP and packaged software vendors have made attempts to address these areas, none have done so holistically and consistently. This void leaves a significant market opportunity to apply these strategic processes to help retailer build an intelligent supply chain and better serve and support their customers.
One of the benefits of a point of sale system is that the computerized system automatically tracks sales and inventory data. The key to maximizing your POS investment is learning to use that data to improve store operations and make more money.
Yunyun Li's insight:
The payoffs can be maximise provided that you learn more about how to analyse data collected through point-of-sale.
You may not care where retailers pack and ship your online orders from, but to those merchants, that where can make a big difference to their bottom line. (Your online orders, coming from a store near you.
Lean concepts such as just-in-time, virtual inventory, supplier rationalization, and fewer distribution facilities reduce total supply chain costs. They also increase supply chain risk. Chris Cameron, solution architect at Exton, Pa.-based supply chain solutions provider Elemica, offers these tips for preventing supply chain disruptions.
1. Identify and assess current risk. Quantify and prioritize risk, then develop a mitigation strategy. Start backward from the customer and gauge the revenue impact of supply chain disruptions. Follow that trail through the manufacturing cycle to the potential sourcing or logistics constraining factors.
2. Identify supply and delivery alternatives. Build collaborative relationships with primary and secondary suppliers, and know which suppliers represent the best alternative sources.
3. Empower your trading partners. Institute a collaboration platform and communications framework designed to facilitate information exchange, while cutting costs and reducing errors.
4. Select vendors in different geographic regions who supply through secondary ports. Maintaining a diverse base of suppliers—even when equivalent materials are available from suppliers in the same region—will help when one country experiences a disruption.
5. Fully engage in supplier relationships. Because you will need to rely on them for help if disruptions arise, monitor suppliers for any potential problems. This includes knowing the suppliers' risk factors: financial strength, compliance with regulations, risk management practices, and the political stability of their countries.
6. Take control of logistics processes. Instead of abdicating to the suppliers' delivery, bring items closer to home where it makes economic sense, and globally source where savings are balanced by assurance of supply. It is crucial to take ownership of both the supply and delivery processes to understand the inherent risk, regardless of who has economic responsibility for delivery according to the terms of the sales contract.
7. Jointly plan and collaborate about potential supply chain disruptions. Include suppliers, logistics service providers, and customers in your collaboration plans. Drive toward mutually available risk plans for each link in your supply chain.
8. Build flexibility into processes so you can promptly adapt to changes with minimum impact. Share forecast and demand information with trading partners so you can be more responsive to customer demand fluctuations. Develop a corporate culture of agility, rather than reactivity. Agile companies can respond rapidly and effectively to manage supply or demand changes.
9. Optimize inventory buffers and safety stock levels. Make sure you have enough supplies to keep producing.
10. Be proactive. Increase visibility into supply chain operations, including event management that enables tracking and monitoring material flow as it happens. Incorporate analytics to identify patterns as they develop for data-driven pre-emptive action.
Jon Sleeman, Director EMEA Industrial & Logistics Research, looks at complex logistical considerations retailers face today. Customers shop using a wide vari... (RT @JLLNews: Omni-channel #retail will be a seamless customer experience.
3 Retail Takeaways from JC Penney's Facebook Page The motley Fool (blog) Embattled retailer J.C. Penney (NYSE: JCP) has received a fair amount of media coverage for its recent TV ad.
Yunyun Li's insight:
All down to customer needs actually within a supply chain. The use of social media enables JC Penney to better commynicate with customers and get first-hand feedback of their offerings. This practice can facilitate its supply chain.
It is necessary to have a clear perspective of customer experience. As the continuous process helping in improving offerings can help an orgnisation to sustain its competitive advantage. Keep listening to customers emphasises the very process of communication and customer engagement. Feedback from customers can help us to compete through customers. Interesting!
It seems that customers are always the most important player within a supply chain, this article let readers know three analytics to boost strategy, and then boost sales and make more profits. All of these three aid in improving customer shopping experience.
Betting on Analytics as Supply Chain's Next Big Thing EBN Some industry experts claim that the day for real-time supply chain practices has come -- and is on the verge of being more mainstream, thanks to a multitude of cloud data management tools...
Yunyun Li's insight:
agreed. Analytic would be the next big and important thing for supply chain industry.
From computational biology to 3D printing, new technology is changing the game-again (The impact of #disruptive #technology: A conversation with Eric Schmidt (Video) | McKinsey http://t.co/cihHtZAPCl...
Growing the local supply chain optimisation business Reseller News Even since his appointment as ANZ managing director of global supply chain optimisation provider Manhattan Associates, in January 2011, Sydney-based Raghav Sibal has been working...
The Strategic Sourceror: Supply chain risk management important to business success, procurement, strategic sourcing, cost reduction and supply chain news by the Strategic Sourceror (Supply chain risk management important to business success
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